Lendingclub (NASDAQ:HAPN) Given New $20.00 Price Target at Piper Sandler

Key Points

• Piper Sandler cut LendingClub’s price target from $25 to $20 but maintained an “overweight” rating, implying roughly 28% upside from the current price. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $23.33.
• LendingClub shares rose 9% to $15.63, while the company’s latest quarterly results exceeded expectations with EPS of $0.50 versus the $0.47 consensus estimate. Revenue was $279.09 million, down 1.1% year over year.
• Company insiders sold a combined 137,800 shares worth approximately $2.62 million over the past 90 days, with the disclosed transactions executed under pre-arranged Rule 10b5-1 trading plans.

Lendingclub (NASDAQ:HAPN - Get Free Report) had its price objective reduced by equities researchers at Piper Sandler from $25.00 to $20.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target suggests a potential upside of 27.98% from the stock's current price.

A number of other equities analysts have also recently issued reports on HAPN. BTIG Research reiterated a "buy" rating and issued a $25.00 price target on shares of Lendingclub in a research note on Tuesday, July 28th. Citizens Jmp upped their target price on shares of Lendingclub from $23.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Lendingclub in a report on Tuesday, September 22nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Lendingclub currently has a consensus rating of "Moderate Buy" and an average price target of $23.33.

Lendingclub Stock Up 9.0%

Shares of HAPN stock traded up $1.29 on Thursday, hitting $15.63. 330,392 shares of the company's stock traded hands, compared to its average volume of 2,035,610. The stock has a market cap of $1.80 billion, a PE ratio of 9.48 and a beta of 1.88. The firm's fifty day moving average is $16.00. Lendingclub has a one year low of $13.05 and a one year high of $21.67.

Lendingclub (NASDAQ:HAPN - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Lendingclub had a return on equity of 12.92% and a net margin of 18.67%. The firm had revenue of $279.09 million for the quarter. Lendingclub's revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Lendingclub will post 1.86 EPS for the current year.

Insider Activity at Lendingclub

In related news, CEO Scott Sanborn sold 28,750 shares of the firm's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $18.25, for a total value of $524,687.50. Following the transaction, the chief executive officer owned 1,462,774 shares of the company's stock, valued at $26,695,625.50. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Fergal Stack sold 37,500 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $18.64, for a total transaction of $699,000.00. Following the completion of the sale, the senior vice president owned 77,477 shares of the company's stock, valued at approximately $1,444,171.28. This represents a 32.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 137,800 shares of company stock valued at $2,618,356 over the last 90 days. 3.31% of the stock is owned by corporate insiders.

Lendingclub Company Profile

LendingClub Corporation is a U.S.-based financial technology company that operates a digital banking and lending platform. The company connects consumers seeking credit with funding sources and provides personal loans, debt-consolidation loans, auto-refinancing loans and other consumer credit products through its online platform.

Following its acquisition of Radius Bancorp in 2020, LendingClub also operates as a bank holding company through LendingClub Bank, National Association. Its banking operations support consumer and commercial lending, as well as deposit products designed to provide funding for loans and other banking activities.

Founded in 2006, LendingClub primarily serves customers in the United States.

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